C.E.S.P. 3-44: Grant Reward Plans
Date Revised: 7-25-2013
Summary: Provides guidelines and links for the Division’s Reward Programs in connection with extramural funding.
The University of Arkansas Division of Agriculture has multiple faculty incentive programs in place to encourage faculty involvement in extramural funding, which meets certain criteria. The two programs currently available are the Faculty Salary Funding Incentive Plan and the Organizational Salary Savings Distribution Program. While faculty members and their departments/units cannot receive benefit from both plans or programs for the same person on one project, they offer two opportunities, both of which are beneficial. Complete details of the Division of Agriculture Faculty Salary Funding Incentive Plan can be found on the Division's web page.(PMGS-03-8.pdf). The Faculty Salary Funding Incentive Plan Approval Form (FINANCE-311) can also be found on that page, as well as in the Cooperative Extension Service templates under the Finance section (extension-policies-templates-finance.aspx) Under the Organization Salary Savings Distribution Program, 50% of the salary savings accrued from 12-month hard funded positions being direct charged on grants or contracts will go into an Administration salary residual account. the remaining 50% of the salary savings (excluding fringes) will be available to be spent by the financial managers and the faculty members being direct charged on the project in support of any of their programs. (See FINANCE-310 for more details.)
The approval form for participation in either of these grant reward programs (FINANCE-311 or FINANCE-310) must be submitted along with the internal Grant Approval Form (FINANCE-312) at the time the proposal is routed for signatures prior to submission to the funding source. The originals will be returned along with the approved FINANCE-312.
The disbursements under the Faculty Salary Incentive Plan will be made during the quarter following the end of the state fiscal year (July 1-June 30) in which the organization received the savings to its operational budget.